Moreover, a day end closing above this week's high of 1.1415 is required to signal invalidation of falling tops formation. Also note, the turn lower from 1.1415 marked another failure to take out key of 1.1430-1.1534.Failure to sustain above this had resulted in a sharp drop last month.
The also shows the blue support has been breached. So bears could have fun out there today. 1.1283 is immediate support followed by 1.1236.
On a larger scheme of things, a day end closing below 1.11 would confirm lower highs and lower lows formation and shift risk in favor a drop towards 1.07 handle.